- Strategic Location Near Employment, Retailers & Entertainment
- $135/unit in Value-Add Upside – $657,407! Through Uniform Interior Upgrades
- Additional Streamlining of Expenses – HOA & Security
- Ability for Major Tax Savings by Continual Operation as Condominiums
- Assumable Below-Market Agency Debt at 2.97%
Strategic Location Near Employment, Retailers & Entertainment
Copeland Village is in the North Tampa submarket of the Tampa MSA, close to I-275 and the University of South Florida Campus. The property is located immediately south of the RITHM (Research Innovation Technology Habitat Medicine) Uptown development, a $2 billion investment revitalizing the former University Mall that started delivering completed buildings with new services in 2023. Surrounded by key employers and recreational destinations, the location provides a dynamic and thriving community for residents. Nearby employers and retailers include the Moffitt McKinley Cancer Center, AdventHealth Tampa, Busch Gardens, Pepsi Tampa, and more.
$135/Unit in Value-Add Upside – $657,407! Through Uniform Interior Upgrades
Copeland Village presents opportunities to increase revenues through systematic and uniform value-add strategies. A new owner can implement a property-wide renovation, upgrading the interiors of the units. Updated hardware, refinished countertops, appliances, flooring and modern fixtures will help push rents ~$135 per unit per month across the board. This equates to a $657,407 increase in annual rental income!
Additional Streamlining of Expenses – HOA & Security
Taking over the HOA Admin role of the HOA will immediately remove a $60,000 expense line-item within the HOA fees, which will fall directly to the Net Operating Income. In addition, the need for security is becoming more limited every day on-site as the operations and tenant-base of the asset have completely turned with current ownership’s management changes and oversight over the last 3 years. The current owner is in-process of removing the on-site security as the completely secured and gated community no longer requires on-site security personnel.
